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Where, for a given fishing year, biological circumstances require the total volume of catches from a particular stock to be fixed at a level which does not permit Greenland to meet the obligation arising from Article 2 and, at the same time, to maintain its fishing activities at a level corresponding to minimum quantities laid down in the Protocols referred to in Article 2 (1), the corresponding quotas agreed with the Community for the stock or stocks concerned shall be reduced accordingly, without this reduction affecting the level of the financial compensation referred to in Article 6. The Parties shall hold consultations to examine the situation as regards stocks and appropriate measures for encouraging their reconstitution as well as to seek ways and means whereby the abovementioned quotas may be transferred to other stocks, other species or subsequent years.